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The Euro: Peripheral countries get to borrow at the rate Germany can (at least until it fucks up for them). Germany gets a hugely devalued currency, allowing it to export.

Individual countries don’t have an exchange rate, the ability to devalue their currency, and until now, where Germany now decides to build itself a huge army, the ability to run deficits to manage downturns.

I understand the appeal European integration on a social level has to European people, but the Euro has accentuated differences between countries in it, ultimately contributing to the rise of the far right. The exact opposite of the social integration European people hoped for.

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